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Vancouver, Canada, June 23rd, 2011 - CanAlaska
Uranium Ltd. (TSX -- CVV) ("CanAlaska" or the "Company") is
pleased to report on results from its 2011 Phase One reverse
circulation ("RC") and initial diamond core drilling program on
the Fond du Lac Project, located on the north rim of the
Athabasca Basin. The exploration identified additional uranium
targets proximal to the existing Fond du Lac uranium deposit,
and provided further targets for the planned 2011 Phase Two
diamond drill program.

click on the map for high resolution image

Thirty-four vertical (2,895 metres) reverse
circulation drill holes were completed in five soil anomaly
target areas, east, north and southwest of the Fond du Lac
uranium deposit during the period, and several encountered both
sandstone/unconformity-hosted and basement-hosted uranium
mineralization. Nine diamond drill holes were drilled at the
West Fond du Lac zone, and five diamond drill holes at the main
Fond du Lac zone. The best uranium mineralization was
encountered in diamond drill hole WFDL001, with 2 metres @ 0.5%
U3O8.

The reverse circulation drilling followed-up on a combined radon
cup and detailed A-horizon soil geochemistry survey using CAMIRO-developed
technology carried out by CanAlaska in 2010 across the central
portion of the Fond du Lac property. Five areas (Figure 1) were
identified as being anomalous with respect to uranium, radon and
metals such as arsenic, nickel and lead.

Core drilling was carried out with nine holes on the West Fond
du Lac zone, at the same time that reverse circulation drilling
started at main Fond du Lac zones. At the end of the West Fond
du Lac core drilling, timing allowed a few short holes near 2009
drill hole FCL017 (40.4 metres at 0.32% U3O8
in the basement). These new holes tested for a north-south
structural break, trending towards RC hole FDLrc001. Diamond
drilling was interrupted because the drill was required on
another project, but will resume in the latter part of this
summer.

In the RC drilling, variable, 21-33 metre thick intervals of
strong to intense hematization accompanied by moderate
chloritization are seen in drill cuttings in all of the holes in
"C" soil anomaly area, with most of the alteration best
developed in the basement series of biotite gneisses. In-rod
probe data further indicates basement hosted mineralization at
depths ranging from 38 metres to 70 metres depth in several
drill holes: FDLrc004: 1,372 cps at 73.4 metres; FDLrc032: 686
cps at 58.2 metres; FDLrc019: 763 cps at 38.9 m and 378 cps at
40.8 metres; and FDLrc005: 246 cps at 45.1 metres. A 705cps peak
in FDLrc009 at 43.1 metres is located in hematised and
chloritised biotite gneiss. FDLrc009 is located on the NE
trending lineament relating the Fond du Lac deposit to the
Grease River Shear Zone.

Multi-element ICP analyses on sandstone samples show distinct
anomalous trends on area C and area E with high U, Cu, Ni, Co,
and As in the sandstone. In drill hole FDLrc001, heavily
hematised sandstone from 10.7 to 13.7 metres is strongly
enriched in Fe, Ni, Co, Cu, Zn, V, La, and Th. The next sample
above is high in uranium (4.1ppm) as well as Ni, As, Cu, Zn, Th,
La.

Mineralization associated with a north-south trending zone of
mylonitisation and brecciation occurs in drill holes FCL030 (2
metres at 0.019% U3O8 from 94.0 to 96.0m) and FCL031 (3.75
metres at 0.043% U3O8, from 69.75 to 73.50
metres and 3.60 metres at 0.078% U3O8,
from 75.0 to 78.6 metres). The mylonite zone appears to be part
of the "Airport Fault", and was also encountered in drill hole
FCL032, but with no significant mineralization.

Follow-up core hole drilling (FLC033, 034) which targeted the
strongly anomalous sandstone in RC hole FDLrc001 encountered the
mylonites typical of the north-south trending Airport Fault,
which appears to affect the mineralization in and around core
hole FCL017.

Further diamond drilling is planned in the immediate vicinity of
RC holes FDLrc004, 001 and to the east and northeast of FDL032,
to test for basement hosted mineralization. Diamond drilling
will also be required in the vicinity of reverse circulation
drill holes FDLrc028 and 029 in the southern portion of the "E"
soil anomaly target area where strongly anomalous arsenic values
are associated with high uranium (22ppm) and high boron (154ppm)
in the sandstone of these two RC drill holes.

President Peter Dasler commented: "The winter 2011 Phase One
drill program at Fond du Lac was difficult to complete because
of extreme weather (-40°C to -50°C) conditions. We had expected
a larger number of holes to be finished, but those that were
completed provided several new targets close to the existing
Fond du Lac deposit. The reverse circulation drilling
highlighted the hematization and anomalous uranium associated
with basement offsets, and faults, north of the deposit, and in
an area south-east of the deposit. These areas have very shallow
sandstone cover (<25 metres). We were able to commence the
planned drill diamond drill program, but have postponed the
major part of this until mid to late summer to take better
advantage of more favorable field conditions."

All of the samples from the Fond du Lac project, submitted to
Acme Laboratories Vancouver, an ISO 9001:2000 accredited and
qualified Canadian Laboratory, were analysed with their Group
1Dx analysis. These samples were analysed for uranium and
multi-element geochemistry by aqua regia digestion and ICP-MS.
Representative cuttings were collected at 1.5 m intervals in
each of the drill holes completed during the period for SWIR
clay analysis and sandstone and basement geochemistry. The
samples were collected by CanAlaska field geologists under the
supervision of Mr. Ron Avery P. Geo, and were shipped in secure
containment to the laboratories noted above.

About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX) is undertaking uranium
exploration in twenty one uranium projects in Canada's Athabasca
Basin -- the "Saudi Arabia of Uranium". Since September 2004,
the Company has aggressively acquired one of the largest land
positions in the region, comprising over 2,500,000 acres (10,117
sq. km or 3,906 sq. miles). To-date, CanAlaska has expended over
Cdn$75 million exploring its properties and has delineated
multiple uranium targets.

The TSX Venture has not reviewed and does not
accept responsibility for the adequacy or accuracy of this
release: CUSIP# 13708P 10 2. This news release contains certain
"Forward-Looking Statements" within the meaning of Section 21E
of the United States Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical
fact, included herein are forward-looking statements that
involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from
those anticipated in such statements. Important factors that
could cause actual results to differ materially from the
Company's expectations are disclosed in the Company's documents
filed from time to time with the British Columbia Securities
Commission and the United States Securities & Exchange
Commission.

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